Cryptocurrency derivatives platform Bybit has just added three more USD Tether-based cryptocurrency pairs in USDT perpetual contracts, which will help the platform expand its list of available assets and address one of the industry’s most actively growing areas, according to a press release shared with iHodl.
In order to stand out the competition and meet the demand for these types of assets, the platform has decided to add Cardano (ADA), Polkadot (DOT) and Uniswap (UNI) pairs denominated in USD Tether.
It must be noted that Bybit already supports coin-margined trading with inverse perpetual contracts covering numerous pairs, including BTC/USD, ETH/USD, EOS/USD, and XRP/USD. BTC/USDT, ETH/USDT, LTC/USDT, BCH/USDT, LINK/USDT, and XTZ/USDT can be traded through USDT perpetual contract support. The new ADA/USDT, DOT/USDT, and UNI/USDT pairs will join this subsequent Tether-margining lineup with leverage ranging between 1-25x.
With USD Tether-margining, traders can use USDT as funding collateral and settle contracts in USDT.
Bybit’s CEO and Co-Founder Ben Zhou said in relation to the launch of these new products:
"We are delighted to be able to bring these highly demanded coins to our trading platform and offer our customers even more choices. Bybit is well known for our outstanding liquidity. We have done extensive research and preparation to make sure that the markets of these new trading pairs will be no exception."